Mike Ashley's Frasers Group has increased its stake in fashion giant Boohoo.
According to a new filing with the London Stock Exchange, Mr Ashley's retail empire has upped its holdings in the Manchester-headquartered group from 5% to 6.7%.
The move comes after Frasers Group, which owns brands such as Sports Direct and House of Frasers, first invested in Boohoo last month.
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The increase cements Frasers Group's position as one of the largest single shareholders in Boohoo.
Co-founder Mahmud Kamani remains the largest shareholder while other investors include Camelot Capital Partners, T. Rowe Price International, FIL Investment Advisors (º£½ÇÊÓƵ) and Norges Bank Investment Management.
Frasers Group also recently invested £75m in Bolton-headquartered electricals group AO before later increasing its stake to just over 21% to become its largest shareholder.
Over the last 18 months, Frasers Group has acquired Lancashire-headquartered Studio Retail as well as Manchester's Missguided out of administration.
It also bought Manchester-based I Saw It First while it has been building a sizeable stake in fashion group N Brown, which is also headquartered in the city. Its holdings in the company now stand at 19%.
In May, BusinessLive reported that Boohoo lost more than £90m during its latest financial year as the cost-of-living crisis squeezed shoppers.
The group posted a pre-tax loss of £90.7m for the 12 months to February 28, 2023, compared to a profit of £7.8m in the prior year and £92.2m in the period before that.
Its revenue also slipped from £1.98bn to £1.76bn over the year although the latest figure is still ahead of the £1.23bn it reported in 2020.
º£½ÇÊÓƵ revenue fell 9% in the year but was still 61% higher than 2020's regional total. International revenue fell 13% but was up 22% on 2020.
